The role of Cooperative Development Bank in revitalizing and improving the dilapidated fabric of Tehran

According to financial news, Solet Mortazavi, Minister of Cooperatives, Labor and Social Welfare, stated at the signing ceremony of the joint memorandum between this ministry and Tehran Municipality: The purpose of concluding this memorandum is the development of the cooperative sector. According to the target setting, 25% of the country’s economy should be included in the cooperative sector, and this memorandum is for the formation of housing cooperatives in low-income neighborhoods and worn-out and inefficient structures of Tehran metropolis, around 354 neighborhoods will be included in this plan, and for this purpose, 354 cooperative companies will be formed.

He emphasized: The issue of renovation and change of use, density and roads is the responsibility of Tehran Municipality, and the necessary facilities will be provided through the resources of the National Housing Movement and from the Cooperative Development Bank and other banks, and the initial forecast is for the construction of about 5 thousand units.

Mortazavi said about the contribution of the people for this project: In addition to their cash contribution, the applicants will benefit from the facilities of 4500 million Rials in a phased manner.

Alireza Zakani, the mayor of Tehran, said at the signing ceremony of this memorandum: The type of activities and measures that are carried out in urban management have serious connections with this ministry. In the field of social harms, there is a close cooperation with welfare, or in the discussion of employment and domestic jobs and other cases that can be established, this ministry can help.

In this ceremony, Mehdi Maskani, Deputy Cooperative of the Ministry of Cooperatives, Labor and Social Welfare, Mohammad Sheikh Hosseini, Head of Cooperative Development Bank, and Hamid Reza Sarmi, Deputy of Urban Planning and Architecture of Tehran Municipality were also present.